EUR/JPY falling inside impulse wave (iii)
- EUR/JPY falling inside impulse wave (iii)
- Next sell target - 114.00
EUR/JPY recently reversed down from the resistance zone lying between the resistance level 116.00 (which also earlier reversed the previous minor ABC correction (ii)), the upper daily Bollinger Band, 38.2% Fibonacci correction of the earlier downward impulse from April and the lower trendline of the wide weekly down channel from 2015 (acting as resistance now after it was broken).
The downward reversal from the aforementioned resistance zone started the active minor impulse wave (iii), which belongs to the impulse wave 3 from the middle of July). EUR/JPY is expected to fall to the next sell target at the support level 114.00.